Crossmark Global Holdings Inc. Decreases Position in Watsco, Inc. (NYSE:WSO)

Crossmark Global Holdings Inc. decreased its stake in Watsco, Inc. (NYSE:WSO) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,330 shares of the construction company’s stock after selling 180 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Watsco were worth $1,104,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. J. W. Coons Advisors LLC boosted its stake in Watsco by 0.7% during the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after buying an additional 20 shares during the period. My Legacy Advisors LLC boosted its stake in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after purchasing an additional 21 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the last quarter. CWM LLC raised its position in Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after purchasing an additional 24 shares during the period. Finally, MCF Advisors LLC lifted its stake in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the topic of several recent analyst reports. Raymond James began coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Northcoast Research started coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Watsco presently has an average rating of “Hold” and a consensus target price of $488.33.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Watsco Stock Down 0.6 %

Shares of NYSE WSO opened at $494.93 on Friday. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The business has a fifty day simple moving average of $505.31 and a two-hundred day simple moving average of $493.00. The firm has a market cap of $19.99 billion, a PE ratio of 38.25 and a beta of 0.95.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $4.35 earnings per share. On average, research analysts expect that Watsco, Inc. will post 13.03 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $2.70 per share. The ex-dividend date is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.18%. Watsco’s dividend payout ratio is presently 83.46%.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.